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Mike Farmer
"Experienced Buyer Agent"
- 3 Helpful Answers
- 4 Answers
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Broker for Mike Farmer Realty
January 1996—present
I have 5 years experience working as a broker and 13 years total experience. The difference…
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I have 5 years experience working as a broker and 13 years total experience. The difference…
Specialties:
I specialize in working with buyers. I am e-Pro ceritifed so I specialize in online home-shopping. Another specialty I possess is information processing.
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Interests:
Reading, golf, writing, historic home styles, politics, economics, remodeling
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About:
I am broker/owner of Mike Farmer Realty in Savannah, Ga. I have a small company of 6 agents and serve mainly the downtown, midtown and island areas. I
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Mike Farmer answered:
20% below list price might not be good strategy. What if the home is 25% overpriced?
A better strategy is to find a home that is priced fairly in this market. To be honest, if a home is priced fairly and in good condition, it will most likely sell, so asking 20% off a home that has been reduced to the present fair market value is going to difficult to find.
You might be able to get a home for 20% less that is in very poor condition, but you have to look at how much money you will have to put into it after buying it -- market value and condition should be the critieria, not 20% below listing price.
A better strategy is to find a home that is priced fairly in this market. To be honest, if a home is priced fairly and in good condition, it will most likely sell, so asking 20% off a home that has been reduced to the present fair market value is going to difficult to find.
You might be able to get a home for 20% less that is in very poor condition, but you have to look at how much money you will have to put into it after buying it -- market value and condition should be the critieria, not 20% below listing price.
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